The rising demand of metal finishing in various industries and other major driving factors is expected to favor the rise in the global metal finishing market
Reports and Insights has published a new report titled, “Metal Finishing Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Metal Finishing Market, By Type (Inorganic Metal Finishing (Cladding, Pretreatment/Surface Preparation, Consumables and Spares, Electroplating, Galvanization, ElectroLess Plating, Conversion Coatings, Thermal Spray Powder Coating, Anodizing, Electropolishing), Organic Metal Finishing, Hybrid Metal Finishing), By Application (Automotive, Appliances, Hardware, Jewelry, Aerospace, Heavy Equipment, Medical Devices, Electronics, Construction, Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global metal finishing market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ xx Bn by 2028 with a significant CAGR of xx%.
Metal finishing is an all-encompassing term used to describe the process of placing some type of metal coating on the surface of a metallic part, typically referred to as a substrate. It can also involve the implementation of a process for cleaning, polishing or otherwise improving a surface. Metal finishing often consists of electroplating, which is the process of depositing metal ions onto a substrate via an electric current. In fact, metal finishing and plating are sometimes used interchangeably.
One of the major factors that is primarily boosting the growth of the global metal finishing market is the rising consumption from end-use industries, all across the world, such as aerospace, automotive, electrical and electronics, and construction together with the capability of these chemicals to bestow excellent properties on a metal surface which is majorly driving the demand of metal finishing worldwide.
By the same token, the growing demand among the population regarding durable as well as wear-resistant products is further estimated to propel the growth of the global metal finishing market over the years.
Having said that, the perilous waste disposal as well as waste water management regulations, as well as the replacement of metals with more costly plastic is likely to hold back the growth of the global metal finishing market in the following years.
Nevertheless, the metal finishing chemicals are significantly used in the electric & electronics industry and automotive industry with a view to offer finishing coatings with increased chemical resistance, electrical conductivity, durability, electrical resistance, tarnish resistance, and others. Attributing to which, the global metal finishing market is projected to witness major breakthroughs in the coming years.
Moreover, the soaring demand of bio-based cleaning chemicals together with swift urbanization and varying lifestyle is further expected to create abundant opportunities for the growth of the metal finishing market over the forecast period.